Automotive Adhesives Market Size, Share & Forecast 2023-2028

Automotive Adhesives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A5184

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Market Overview:

The global automotive adhesives market size reached US$ 5.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

Automotive adhesives refer to fluid substances used to bind composites, metals, plastic and materials together. They are commonly available in solvent-based, water-based and hot melt variants that contain volatile organic compounds (VOCs). Automotive adhesives are manufactured of ethylene, amine-based resins, propylene, epoxide, acrylics, polyester resins, vinyl acetate monomer and synthetic materials. They are widely used to bond and seal interior and exterior components of an automobile, such as door panels, light covers, armrests, dashboards, lenses, chassis, headliners, consoles, and door skins. They aid in easing automation, ensuring strong bonds, minimizing drying time, and enhancing cohesive strength and corrosion resistance. Automotive adhesives also assist in improving crash performance, minimizing noise vibration, reducing vehicle mass, and increasing front and rear lateral body stiffness.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Automotive Adhesives Market Trends:

The significant growth in the automotive industry across the globe is one of the key factors driving the growth of the market. Automotive adhesives are widely used to increase versatility, strength, prevent galvanic corrosion and maintain aesthetic appeal. In line with this, the increasing adoption of electric vehicles (EVs) due to the rising environmental consciousness is favoring the market growth. Automotive adhesives are used as binding components that provide crash durability and thermal conductivity while keeping the battery at a safe temperature. Moreover, various product innovation, such as the formulation of biodegradable automotive adhesives, are providing an impetus to the market growth. These eco-friendly automotive adhesives are widely used for automobile interiors and are manufactured using sustainable materials that aid in reducing the emission of harmful chemicals. Additionally, the widespread adoption of polyurethane resin for producing automotive adhesives and sealants as it assists in increasing durability, scratch resistance and corrosion resistance of vehicles is positively impacting the market growth. Other factors, including the increasing demand for lightweight vehicles, introduction of high-performance adhesive tapes, and the implementation of several government initiatives to reduce the environmental footprint of vehicles, are anticipated to drive the market growth further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive adhesives market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, resin type, vehicle type and application.

Breakup by Technology:

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Hot Melt
Solvent Based
Water Based
Pressure Sensitive
Others

Breakup by Resin Type:

Polyurethane
Epoxy
Acrylic
Silicone
SMP
Polyamide
Others

Breakup by Vehicle Type:

Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles

Breakup by Application:

Body in White (BIW)
Powertrain
Paint Shop
Assembly

Breakup by Region:

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North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Avery Dennison Corporation, BASF SE, Bostik SA (Arkema S.A.), Covestro AG, Dow Inc., DuPont de Nemours Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., Nitto Denko Corporation, PPG Industries Inc., Sika AG and Solvay S.A.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Technology, Resin Type, Vehicle Type, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	3M Company, Avery Dennison Corporation, BASF SE, Bostik SA (Arkema S.A.), Covestro AG, Dow Inc., DuPont de Nemours Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., Nitto Denko Corporation, PPG Industries Inc., Sika AG and Solvay S.A.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global automotive adhesives market was valued at US$ 5.9 Billion in 2022.

We expect the global automotive adhesives market to exhibit a CAGR of 5% during 2023-2028.

The growing usage of automotive adhesives in electric vehicles as binding components that provide crash durability and thermal conductivity while keeping the battery at a safe temperature is primarily driving the global automotive adhesives market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for automotive adhesives.

Based on the resin type, the global automotive adhesives market can be categorized into
polyurethane, epoxy, acrylic, silicone, SMP, polyamide, and others. Currently, polyurethane exhibits clear dominance in the market.

Based on the vehicle type, the global automotive adhesives market has been segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Among these, passenger vehicles represent the largest market share.

Based on the application, the global automotive adhesives market can be bifurcated into Body in White (BIW), powertrain, paint shop, and assembly. Currently, Body in White (BIW) accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.

Some of the major players in the global automotive adhesives market include 3M Company, Avery Dennison Corporation, BASF SE, Bostik SA (Arkema S.A.), Covestro AG, Dow Inc., DuPont de Nemours Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., Nitto Denko Corporation, PPG Industries Inc., Sika AG, and Solvay S.A.

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